Empowered Funds LLC Cuts Stock Position in U.S. Bancorp $USB

Empowered Funds LLC lessened its stake in shares of U.S. Bancorp (NYSE:USB) by 39.0% in the first quarter, Holdings Channel reports. The institutional investor owned 185,881 shares of the financial services provider’s stock after selling 119,059 shares during the period. Empowered Funds LLC’s holdings in U.S. Bancorp were worth $9,668,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Quantinno Capital Management LP raised its position in shares of U.S. Bancorp by 28.0% in the 1st quarter. Quantinno Capital Management LP now owns 1,265,360 shares of the financial services provider’s stock worth $65,811,000 after purchasing an additional 277,012 shares during the last quarter. Polar Asset Management Partners Inc. purchased a new stake in U.S. Bancorp during the 1st quarter valued at about $8,298,000. Lazard Asset Management LLC grew its position in U.S. Bancorp by 40.4% during the 1st quarter. Lazard Asset Management LLC now owns 2,925,255 shares of the financial services provider’s stock valued at $152,142,000 after purchasing an additional 841,397 shares during the last quarter. Family Manage LLC increased its stake in U.S. Bancorp by 20.7% during the 1st quarter. Family Manage LLC now owns 11,756 shares of the financial services provider’s stock valued at $611,000 after purchasing an additional 2,019 shares in the last quarter. Finally, Gateway Wealth Partners LLC purchased a new position in U.S. Bancorp in the first quarter worth about $355,000. 77.60% of the stock is owned by institutional investors.

U.S. Bancorp Price Performance

Shares of NYSE:USB opened at $62.92 on Friday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.82 and a current ratio of 0.83. The firm has a market cap of $97.60 billion, a price-to-earnings ratio of 12.56, a price-to-earnings-growth ratio of 1.03 and a beta of 0.96. The business has a 50-day simple moving average of $59.65 and a two-hundred day simple moving average of $56.65. U.S. Bancorp has a fifty-two week low of $43.46 and a fifty-two week high of $64.84.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Thursday, July 16th. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.07. U.S. Bancorp had a net margin of 18.49% and a return on equity of 13.69%. The firm had revenue of $7.71 billion for the quarter, compared to the consensus estimate of $7.58 billion. During the same quarter last year, the firm posted $1.11 EPS. On average, analysts expect that U.S. Bancorp will post 5.22 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a $0.52 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $2.08 annualized dividend and a dividend yield of 3.3%. U.S. Bancorp’s payout ratio is presently 41.52%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on USB shares. Keefe, Bruyette & Woods upped their target price on shares of U.S. Bancorp from $63.00 to $66.00 and gave the stock a “market perform” rating in a research note on Friday, July 17th. DA Davidson raised their price target on shares of U.S. Bancorp from $72.00 to $74.00 and gave the company a “buy” rating in a research report on Friday, July 17th. Morgan Stanley boosted their price objective on shares of U.S. Bancorp from $64.00 to $67.00 and gave the stock an “equal weight” rating in a report on Monday, June 29th. Robert W. Baird upped their price objective on U.S. Bancorp from $64.00 to $68.00 and gave the company a “neutral” rating in a research report on Friday, July 17th. Finally, Weiss Ratings upgraded U.S. Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, U.S. Bancorp presently has an average rating of “Moderate Buy” and a consensus target price of $67.06.

Insiders Place Their Bets

In other U.S. Bancorp news, EVP Venkatachari Dilip sold 34,522 shares of the stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $55.52, for a total value of $1,916,661.44. Following the transaction, the executive vice president owned 51,292 shares of the company’s stock, valued at approximately $2,847,731.84. This represents a 40.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Stephen L. Philipson sold 36,906 shares of the firm’s stock in a transaction dated Monday, July 20th. The stock was sold at an average price of $63.08, for a total value of $2,328,030.48. Following the completion of the transaction, the insider directly owned 74,969 shares in the company, valued at $4,729,044.52. The trade was a 32.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.21% of the stock is currently owned by corporate insiders.

U.S. Bancorp Company Profile

U.S. Bancorp (NYSE: USB) is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.